According to the Global Wealth Migration report 2018, Australia has been the ideal destination for the world`s millionaires for the third year in a row, according to the Global Wealth Migration report 2018. Unique geographical location, high safety factor, estate tax exemption and other advantages, attracted numerous high net worth people.
In 2017, about 10000 high-net-worth individuals, mainly from China, India and the United Kingdom, emigrated to Australia, referring to individuals with personal wealth of $1 million or more.
Melbourne and Sydney are among the world`s top 10 cities with the largest net millionaire inflows, including Auckland of New Zealand.
In 2017, the number of millionaires who became nationals of other countries increased by 15% to 95000.
Britain has become one of the countries with net millionaire outflows, according to the Global Wealth Migration report 2018. In 2017, the UK had a net outflow of 40 million millionaires. Sociologists believe this does not bode well for a country. Historically, the collapse of any country`s economy usually began with the migration of rich people from the country.
Australia, the Republic of the wealthy
Australia became an ideal country for the rich. There are many reasons, such as security, political stability, and no inheritance tax. In addition, close to Asia, Australia and China, Japan as a good trading partner.
Australia is listed as the safest country for women, the report said. Historical statistics show a 92% correlation between a country`s wealth growth and this factor.
"some of the super-rich think that Australia is more like a state of Baum with too many rules and regulations."
Is it "immigration policy" or "anti-rich"?
The rising anti-immigration rhetoric does not seem to suit the rich.
First, they are less likely to work in low-paid jobs, and second, they are less likely to demand benefits and subsidies. In the end, their offspring will not squeeze the resources of public schools, private schools are the first choice for all wealthy families.
The only possible negative impact is that the rich helped push house prices up. But Australia has banned foreign investors from buying second-hand homes in an effort to curb rising house prices. Still, prices in Sydney and Melbourne rose in 2017.
In 2017, Sydney`s house cost per square meter rose 19 percent to US $25000 (A $32600) per square meter. The traditional "paradise" of some of the super-rich, such as (Lake Como) in Lake Como, Italy, is lower than Sydney`s per square meter. However, the property market in Sydney in 2018 has cooled slightly.
What is the "equality" of Australia`s wealth?
Australia ranks ninth in the world`s richest countries, with a total private wealth of A $ six trillion one hundred and forty two billion. It is expected to overtake Canada and France as the world`s seventh richest country by 2027.
Australia is also the fifth-richest country with $ two hundred and seventy nine thousand two hundred per capita, more than $ one hundred and ninety three thousand three hundred and ninety nine per capita.
Both numbers are among the best in the world, but that does not in any way affect Australia`s status as one of the "most equal" countries in the world, with only 28 percent of its personal wealth concentrated in the hands of people with a fortune of not less than a million dollars.
Economists argue that if you don`t want a country to have too big a gap between rich and poor, it should be less than 30 percent, and once more than 40 percent, it means there is little room for national wealth to be left to the middle class and the working people at the bottom.
In 2017, there were 2252 billionaires worldwide, 584000 of whom had a net worth of $10 million or more and 15.2 million millionaires. The global average personal wealth is $28400.
By 2030, the world`s richest 1% are expected to control 2/3 of the world`s wealth.
